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What is Coinvest?

Coinvest is a platform that aims to provide the world’s first decentralized stock market for trading cryptocurrencies. This platform would allow almost anyone to invest in cryptonized assets using one coin. They would also be able to create portfolios and trade their own cryptocurrencies.

The idea for Coinvest was born out of frustration with limited amount of options for cryptocurrency available, and the complexity of those options. Founded in the summer of 2017, Coinvest enables average consumers to invest in cryptocurrencies safely and easily using just one platform and one wallet.

The roadmap for Coinvest details the steps they have take so far and what they are planning for the future. At the end of 2017 they had a token offering and released a private beta version, while in 2018 they plan to have a public release, a mobile platform, and create debit accounts. They do not offer particulars as to what quarter of 2018 they expect these things to happen.

How Does Coinvest Work?

The detail as to how Coinvest is somewhat limited, but they do offer a graphic and basic breakdown of the steps involved. To get started, users just need to download the Coinvest app and create a virtual portfolio using their favorite cryptocurrencies. The smart contacts allow users to trade and withdraw investments directly.

The investments can be withdrawn as COIN tokens which can be invested back into the app or be placed into the user’s debit account. The debit account allows users to easily spend their profits or investments.

In stating how Coinvest is different from its competition they explain that the key is decentralization. Because autonomous smart contracts are used to manage the investment process, the funds can be help in escrow and never touched by third-parties. Once funds are withdrawn by a user they have the option of storing it in a wallet or in their debit account.

Features and Benefits of Coinvest

One of the primary benefits of Coinvest is that the process is much simpler than investing in cryptocurrencies ever has been previously. Cryptocurrency investments can often take hours to complete because of KYC authorization. Coinvest manages to bypass that process due to their use of smart contracts, and because there is not exchange of assets or fiat currency.

Because the prices in cryptocurrency can be unpredictable the risk of acquiring assets at the wrong time can be significant. Coinvest offers some investment options like shorting and price limit orders that can help control the volatility somewhat.

Furthermore, Coinvest offers users the ability to diversify their portfolios which is something that other cryptocurrency exchanges cannot offer. The index funds offered by Coinvest contain several different cryptonized assets and users can invest without purchasing the assets themselves. Additionally, they can provide lower operating expenses, lower turnover in the portfolio. Because portfolios are completely digital users don’t have to worry about storing any investment assets.

The Coinvest Token Sale

The token sale for Coinvest is set to begin on March 9th, 2018 and run through April 6th. There do not appear to be any sort of geographic limitations to the token sale. The tokens will be referred to as COIN and distributed as ERC20. The total amount of tokens being created is 107,000,000 with the unsold tokens going into a reserve.

The ICO sets the fundraising goal at $30 million. The sale will accept just ETH, and requires a minimum contribution of 0.01 ETH, with a maximum of 50 ETH. 1 ETH has the value of 300 COIN. 1 COIN is equivalent to $0.64. There doesn’t appear to be any information regarding a pre-sale or financial information about money that has been raised so far.

Of the 107 million tokens that are going to be created 44% of them will be made available for the crowdsale, 25% will go into a reserve, 16% will go to an employee and advisor option pool, 10% will go to ecosystem development and partnerships, and the final 5% will go into a private whitelist reserve. Regarding the funds raised during the sale, 50% will go into the secondary reserve, 30% will be dedicated towards development, 10% to marketing, and 10% to operations, administrative, and legal costs.

Who’s Behind Coinvest?

The founder and executive director of Coinvest is Damon Nam. Nam has a long history of working several different positions with Microsoft, working his way up to US Services Partner Program Director. He received a BS in Information Technology from Southern Methodist University. The technology director is Byron Levels who was educated at The University of Texas Arlington and has worked a technical account manager for Microsoft.

The creative director is Ramiro Galan who has been a design lead for IBM and a user experience designer with 343 Industries. The Business Development Director is Taylor Rieckens who served the same position with Another Source and worked as a partner resource manager for Microsoft previously. In total there are 13 team members primarily from the United States.

The advisory board for Coinvest features just two people, but both have impressive backgrounds. Pete Cashmore is the founder and CEO of Mashable and has received recognition from Time magazine and Forbes. The other advisor is Tony Scott, the founder and CEO of the Tony Scott Group. He has served as Chief Information Officer for the federal government, as well as Microsoft and Walt Disney.

Conclusion

As cryptocurrencies become more established in the financial marketplace a need for a wallet the can carry multiple cryptocurrencies becomes increasingly appealing. This is one of the primary selling points of the Coinvest platform. Investing in cryptocurrencies is not feasible for most because of the thousands of different currencies and the hundreds of different wallets that makes the process extremely difficult and tough to manage.

The team behind Coinvest has a lot of experience and primarily come from a background of working for Microsoft. In order to breakthrough to a new market of investors, cryptocurrencies need something like this platform to simplify the process and help mitigate the risk. Unfortunately, the roadmap for Coinvest is not very detailed regarding when the product is supposed to launch aside from sometime in 2018.

The token sale for Coinvest doesn’t start for almost another month, so there will be plenty of time for more information to be provided, and the thinking behind the platform does seem sound in many ways. We would be interested in seeing a beta or a version that is available for testing, but it is definitely a platform to keep an eye on going forward and we expect to see interest in the platform increase as the token sale approaches.

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Peter Lehmann

Peter is a blockchain investor and cryptocurrency writer at Vkool.com. Since 2014 Peter has advised blockchain startups and ICOs on content marketing, strategy and business development.

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